A fall is expected.

A formation of wave A of 4 continues, within which wave b of A seems to have finished. At present, a formation wave c of A seems to have started within which a Bearish impulse towards the level of 1.2700 is expected. A critical for the scenario is the level of 1.3279 a breakout of which would lead to a growth continuation within wave b of A towards the levels of 1.3300, 1.3400.

Trading tips

Sell the pair below the level of 1.3279 with the target at 1.2700.

Alternative scenario

The breakout and consolidation above the level of 1.3279 would allow the pair to grow to 1.3300, 1.3400.

USD/CAD: wave analysis

USD/CAD: wave analysis

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